"Payment systems in general are very hard to create. Over the last 50 years we've had PayPal, credit cards and not much else succeed. And there's a good reason for that. Unless you really solve a problem you are fighting an uphill battle. I don't see what BitCoin is solving," said Hanson.

"Prison guards at a Chinese prison camp are reportedly forcing inmates to smash rocks by day and play World of Warcraft at night. The purpose of the all-night WoW sessions is to obtain virtual gold by completing in-game tasks. The prison bosses then turn around and sell the virtual gold in the real world making as much as $930 a day, according to the Guardian."

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